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- Kenya, Tanzania braces for torrential floods as Cyclone Hidaya approaches
- EAC monetary affairs committee to discuss single currency progress in Juba talks
- Transport and food prices drive down Kenya’s inflation to 5% in April
- Payment for ransomware attacks increase by 500 per cent in one year
- History beckons as push for Kenya’s President Ruto to address US Congress gathers pace
- IMF’s Sub-Saharan Africa economic forecast shows 1.2 percent GDP growth
- The US Congress proposes extending Agoa to 2041, covering all African countries
- Millions at risk of famine as fuel tax row halts UN aid operations in South Sudan
Economic Growth
- New hotel room developments in Kenya have dropped.
- With continued signing activity (19 hotels with about 5,200 rooms in 2023) Egypt now accounts for 28 per cent of the total pipeline.
- When it comes to hotels under construction, Marriott International leads the way, with 138 hotels (15,011 rooms) currently being built.
Kenya has ranked seventh in Africa among the countries with the highest number of hotel room developments by international hotel chains, a drop from position five in 2022.
This is according to the latest survey by Lagos-based W Hospitality Group, in association with the Africa Hospitality Investment Forum (AHIF). From the survey, Kenya has 31 hotels with a total of 4,268 rooms on the pipeline with an average room size in these hotels is approximately 138 square feet.
North Africa continues to dominate the planned supply, with Morocco and Egypt together comprising almost 31 per cent of the …
- The Uganda National Oil Company (UNOC) is directly importing petroleum products from Vitol Bahrain, aiming to reduce reliance on Kenyan firms and mitigate high fuel prices.
- UNOC’s direct importation and sale of fuel to OMCs in Tanzania and Uganda is a significant step towards fostering stronger regional ties, promoting economic growth, and ensuring energy security.
Uganda National Oil Company (UNOC) has started the sale of petroleum products to oil marketing companies in both Uganda and Tanzania.
This is part of a broader strategy to test the waters before UNOC embarks on a direct importation agreement with the global oil titan, Vitol Bahrain. This maneuver signals a new era in East Africa’s energy dynamics, especially following a cooling of relations between Uganda and Kenya over fuel supply mechanisms.
Breaking New Ground: Uganda National Oil Company Direct Importation Deal
For years, Uganda’s fuel supply chain was heavily dependent on Kenyan OMCs. However, …
- The joint development of the Green Giant Project will expedite the construction of the first 200MW phase of the investment.
- Mini-grids account for more than half of all new connections in DRC.
- The agreement represents a significant milestone in the collaborative efforts between SkyPower, AFC, and the DRC.
The Democratic Republic of Congo (DRC), Africa Finance Corporation (AFC) and SkyPower Global have entered into a joint development agreement for the first phase of SkyPower’s Green Giant project in the mineral-rich country.
The move is meant to promote the use of renewable energy in the Eastern African state. This 200MW Phase one is a crucial step towards achieving the landmark 1,000MW Solar Power Purchase Agreement (PPA) signed between SkyPower and the DRC’s state-owned utility, Société Nationale d’Electricité (SNEL).
The partnership brings together SkyPower’s extensive experience in developing large-scale solar projects and AFC’s successful track record of de-risking and funding well-structured power …
The index pointed to a solid improvement in the health of the private sector economy, helped by a recovery in business activity as Covid-19 cases continued to fall across the country.
New business levels at Kenyan companies rose sharply in February, as survey panellists commented on a rebound in customer demand and increased marketing efforts.
The rate of growth was the second-fastest since October 2020.
Export sales rose to a much greater extent than in January, but growth remained weaker than seen in the fourth quarter of last year.…
The Nigerian Minister also praised Equatorial Guinea, saying that the Western African country has a massive record of world-class gas processing and liquefaction infrastructure already in Punta Europa and allocating investment funds for development.
Minister Obiang Lima said that Equatorial Guinea was in line to be an essential player in the African energy market.
“New, fast, and competitive sources will be a major determinant of success,” he said. “This strategic collaboration breaks down geographical boundaries and allows gas delivery from Nigeria to Equatorial Guinea’s Punta Europa facilities, extending their life and providing access to the regional and global energy markets.”
Through the agreement, the Nigerian National Petroleum Corporation (NNPC) and its joint venture partners will put into monetary use gas that would have otherwise been stranded offshore due to the absence of infrastructure.…
- The DRC is facing one of the deadliest and longest-running civil war crises
- The precariousness of the 2023 elections heightens uncertainty in the Democratic Republic of Congo
- The DRC has over eighty million hectares of arable land and nearly four million hectares of irrigated land
- The country has less than 600 millionaires, most of which have made their wealth by mining natural resources and raw materials
The population in the Democratic Republic of Congo (DRC) will see another year of high expectations and broken promises.
The DRC is facing one of the deadliest and longest-running civil war crises. The wars have been mainly built on land, resources, and power, significantly affecting the country’s economic status. DRC is the country that has the most displaced people totalling more than 5.5 million people.
According to the World Bank, DRC ranks the 11th poorest nation with a GNI per capita of $550 in …
![African Energy Bank to fund fossil fuels in Africa. [Photo/African facts]](https://theexchange.africa/wp-content/uploads/2022/02/African-Energy-bank_African-facts-300x201.jpg "Africa pursuing energy banking as investors withdraw fossil fuels funding")
- The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons
- A BP Statistical Review of World Energy 2021 reveals that oil and gas produced about 48 per cent of Africa’s total electric power generation in 2020
- At the COP26 climate summit held in Glasgow, the United Kingdom, in November, several countries agreed to stop the direct public financing for overseas fossil fuel development and extraction by the end of this year
The western countries have halted overseas fossil fuel financing, a decision that has raised the alarm among Africa’s largest exporters of hydrocarbons, who sees the creation of an African Energy Bank as a way out to fund fossil fuels in Africa.
To prevent catastrophic climate change, environmental and financial organisations and governments across Europe and America have insisted that developing nations in Africa must immediately transition from …
Enock Godongwana, South Africa’s finance minister appeared at ease for a man delivering his maiden budget speech. A speech whose pronouncements can send the markets soaring or sinking. A lot was riding on this, but the man seemed casual and affable during the delivery of his address he occasionally addressed the members of parliament by name and spoke in his native Xhosa language.
A lot was indeed riding on his presentation today the 23rd of February 2022. The primary expectations of the speech from stakeholders are whether the treasury chief’s plan for 2022 will stimulate economic growth and foreign direct investment. Each South Africa needs urgently.
The finance minister began his address by affirming his commitment from his midterm budget speech to the reconstruction and recovery of the economy and by extension saving lives and livelihoods.
Very noble aspirations and themes. This message is needed by citizens who have grown …
While Russia’s preferred visions and modes of action in the Maghreb seem to be fairly well identified, the perceptions and expectations, but also the possible reservations on the Maghreb are more rarely expressed by the leaders of these countries and little-studied at the academic level.
Perhaps we should look at this, as far as the powers that be are concerned, a concern for discretion regarding the sensitive aspects of this foreign policy component – this is particularly true for Algeria – an area on which they generally communicate little and for the academic research community in North Africa, a lack of knowledge related to the history, geography and culture of contemporary Russia.
If there is undoubtedly, on the Maghreb side and with important nuances from one country to another, a manifest interest in a development or a deepening of the partnership with Moscow, questions may remain about Russia’s objectives, especially …
